February 18, 2009
iovation Partners with ADBillSOFT to Combat Financial Fraud
Device Reputation Technology Helps Strengthen Online Gaming Billing Solutions
PORTLAND, Ore. – February 18, 2009 – iovation, the Device Reputation Authority™ for the Internet, and ADBillSOFT, Korea’s premier provider of commercialized billing solutions, today announced a partnership to promote the use of device-based fraud prevention solutions to mitigate the risk of financial fraud in Korea’s online gaming industry.
Under the agreement, ADBillSOFT will offer iovation’s ReputationManager™ fraud management service, which uses device reputation technology to proactively identify fraudulent computers and stop scams such as credit card abuse, chargebacks, and other forms of financial fraud that impact online gaming providers’ business profits and growth.
“ADBillSOFT is proud to endorse an established anti-fraud technology that is truly on the front lines of online fraud prevention,” said Kyoungho Choi, marketing director at ADBillSOFT. “iovation’s unique approach to fighting fraud allows online gaming providers to prevent fraudulent activities by identifying even the most Internet-savvy criminals before they can commit fraud. Partnering with iovation supports ADBillSOFT’s key initiatives of delivering stronger fraud protection for our online billing solutions.”
iovation’s ReputationManager device reputation technology allows online gaming sites to determine in milliseconds whether a transaction is coming from a computer that has been associated with fraudulent or abusive behavior in the past. The service is built on iovation’s shared Device Reputation Authority fraud network, which manages the reputations of more than 100 million unique computers and mobile devices worldwide. Online games using the real-time service can immediately act on this information to better protect their remote business environments and customers from financial fraud.
“ADBillSOFT’s expertise in providing premium billing solutions combined with iovation’s fraud management services address key fraud challenges facing the online gaming industry,” said Greg Pierson, CEO of iovation. “As financial fraud continues to pose a growing threat to the financial stability and growth of online gaming sites, iovation helps extend their internal capabilities for combating the most advanced forms of online fraud and abuse.”
About ADBillSOFT
ADBillSOFT Inc. is the first venture company to succeed in commercializing billing solutions in Korea, has currently over 70% market share. The company’s products include BillFlex, a wired/wireless contents, billing solution, performance and functionality of which have been recognized by major Internet service contents providers, especially online gaming, in Korean, BillQuest, a mediation solution; BillSafer, a billing verification solution; and Bill Planner, a provisioning solution for digital broadcasting services. For more information, visit www.adbillsoft.com.
About iovation
iovation, headquartered in Portland, Oregon, pioneered the use of device reputation for managing online fraud and abusive behavior in the online gaming community. iovation unlocks the power of device identification by sharing the reputations of more than 100 million unique computers and mobile devices worldwide, allowing businesses to reduce more online fraud and abuse while benefiting from sharing device reputation intelligence. Today, iovation performs more than 3 million fraud checks for its customers per day and will process over a billion reputation queries this year. For more information on iovation and the company’s products, visit www.iovation.com.
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